5 African Companies To Invest In Now

In this article, we will look at 5 African Companies To Invest In Now. If you want to explore similar companies, you can also take a look at 10 African Companies To Invest In Now.

5. MiX Telematics Limited (NYSE:MIXT)

Number of Hedge Fund Holders: 4

MiX Telematics Limited (NYSE:MIXT) provides fleet and mobile asset management solutions through the software-as-a-service (Saas) delivery model. The company was founded in 1995 and is headquartered in South Africa. As of this February, Canaccord analyst T. Michael Walkley has a $22 price target on MiX Telematics Limited (NYSE:MIXT) along with a Buy rating on the shares.

On May 26, MiX Telematics Limited (NYSE:MIXT) posted a market-beating quarter and released earnings for the fiscal fourth quarter of 2022. The company reported earnings per share of $0.16, exceeding Wall Street expectations by $0.10. The company’s revenue came in at $36.10 million, up 5.05% year over year, and beat revenue estimates by $1.55 million. The company also offers dividends, and as of June 5, boasts a trailing twelve-month dividend yield of 2.51%, making it one of the best dividend-paying African companies to invest in now.

At the close of Q1 2022, 4 hedge funds were long MiX Telematics Limited (NYSE:MIXT) with stakes worth $12.46 million. This is compared to 6 hedge funds in the previous quarter with stakes of $15.50 million.

As of March 31, Renaissance Technologies is the top shareholder in MiX Telematics Limited (NYSE:MIXT), owning over 0.53 million shares. This amounts to a stake value of $6.05 million.